I don't know if that is true about the malls?, I just came back from two big malls here in the valley and they were very slow. I know it is a Monday, but there was hardly anyone there. I saw a lot of 50-70% off sales.
What I see happening here is if you have money, you are going to hold on to it. I think the days of going out and spending your money on non essential items are over. Unless your a porn chick who just got paid $2,000 for a shoot and now goes to Melrose Ave and buys a $2,000 purse

.